SHRIYANS PRASAD JAIN (DEAD) BY LRS. versus INCOME TAX OFFICER AND ORS.

SHRIYANS PRASAD JAIN (DEAD) BY LRS. versus INCOME TAX OFFICER AND ORS.

The Settlement Commission was justified in apportioning the sum of Rs. 7 lacs, disbelieving the genuineness of the letter of appointment, and holding that a major portion is liable to tax under Section 7 of the Income Tax Act, 1922. The Supreme Court will not interfere with findings of fact unless the order is contrary to the provisions of the Act.

Parties
Appellant: Shriyans Prasad Jain (Dead) by LRs.; Respondents: Income Tax Officer and Ors.
Jurisdiction
India
Judgment Date
14 September 1993
Procedural Posture
Civil Appeal / Appeal Against the Order of the Income Tax Settlement Commission
Outcome
Appeal dismissed with costs
Legal Topics
Income Tax, Assessment Proceedings, Settlement Commission, Reopening Assessment, Compensation for Termination of Employment
Taxation Income Tax Assessment Proceedings Settlement Commission Reopening Assessment Compensation for Termination of Employment

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Parties

Shriyans Prasad Jain (Dead) by LRs.

Appellant

Income Tax Officer and Ors.

Respondents

Procedural Posture

Civil Appeal / Appeal Against the Order of the Income Tax Settlement Commission

Legal Issues

  1. 1 Whether the Settlement Commission can reopen the question of genuineness of a document in settlement proceedings
  2. 2 Whether findings recorded by Inquiry Commission have evidentiary value in settlement proceedings
  3. 3 Whether this Court can interfere with findings of fact recorded by Settlement Commission

Ratio Decidendi

The Settlement Commission was justified in apportioning the sum of Rs. 7 lacs, disbelieving the genuineness of the letter of appointment, and holding that a major portion is liable to tax under Section 7 of the Income Tax Act, 1922. The Supreme Court will not interfere with findings of fact unless the order is contrary to the provisions of the Act.

Court Disposition

Appeal dismissed with costs

Orders

  • Appellant to pay tax as calculated by Settlement Commission
  • Appellant to pay respondent's costs assessed at Rs. 7,500 consolidated